ACERA offers the following benefits to members:
- A monthly retirement allowance for life
- An annual cost of living adjustment (COLA)
- A $1,000 retiree death benefit (as long as there are funds in the SRBR)
Vested benefits are guaranteed under the 1937 Act County Employees Retirement Law. Once earned, they cannot be reduced or taken away. The monthly retirement allowance is calculated at the time of retirement based on a formula.
You earn the vested benefits by becoming vested in the retirement system with 5 years of service credit.
Non-Guaranteed benefits, or Non-vested benefits, include benefits provided through the Supplemental Retirees Benefit Reserve (SRBR). The following non-vested benefits may be offered to retirees:
- Health, dental, and vision care benefits
- Monthly Medical Allowance (MMA), which provides eligible retirees a contribution toward health plan premiums based on years of service
- Medicare Part B Reimbursement Plan (MBRP), which reimburses eligible retirees for their Medicare Part B cost based on the lowest standard premium
- Supplemental COLA
Non-vested benefits are reviewed by the Board of Retirement on an annual basis and are subject to modification and/or discontinuance based on available funding at any time.